Pakistan might lobby the Biden administration to persuade global creditors to grant Islamabad $13 billion in loans for 24 projects.
Pakistan is putting together supporting materials for a special paper that would be delivered to US authorities on January 8, 2023, the eve of the upcoming donors’ summit in Geneva.
The topic of more than 20 infrastructure projects totaling $13 billion to rebuild Pakistani districts damaged by flooding will be covered.
The remaining $4 billion will be used for irrigation and the Flood Protection Project. In addition, the government intends to finance reconstruction in flood-affected areas with $8 billion from its budgetary resources and $8 billion from international and bilateral creditors.
The administration developed a policy to spend 50% of its money for medium-term reconstruction in light of donor fatigue and involvement elsewhere.
Donors will provide $8.2 billion in this time of need.
International creditors including the World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank (AIIB) sponsored and approved $2 billion projects for the reconstruction phase in flood-affected areas out of the $8.2 billion indicated as a financial deficiency by Pakistani authorities.
$2.4 billion has been pledged by Pakistan. It was anticipated to get an additional $1 billion during the donors’ summit in Geneva.
It is anticipated that the Pakistan-UN conference will raise $3.5 to $4 billion. We’ll have to wait and see how much the international community assists Islamabad in rebuilding Pakistani neighbourhoods destroyed by floods.
Pakistan will ask for foreign aid for the social sectors of education, health, and other during the upcoming conference.
